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CONFESSION #0518 — APPRAISAL DISASTER
Monday, May 11, 2026
The deal had been dead for a week before I found out. Buyers just ghosted, their agent stopped returning calls, and nobody thought to loop me in until I texted asking about the closing date. The appraisal came in at 312. We were under contract at 365. Fifty-three thousand dollar gap, and the appraiser used a comp from a foreclosure two streets over that sold in February. February. During that ice storm when half the neighborhood had burst pipes.
My sellers, they'd already put a deposit on their new place in Austin. Non-refundable. Eight thousand dollars.
The appraiser, and this is the part that still gets me, he never went inside. Did a drive-by because quote the exterior condition was sufficient for valuation purposes unquote. The house has a brand new kitchen. Forty thousand dollar renovation, we have receipts, we have before photos, we have the permit paperwork. He valued it based on the vinyl siding.
Called the lender to dispute, got transferred three times, ended up talking to someone who kept calling it "the property in question" like we were in court. She said they'd review it in 10 to 15 business days. The contract expired in 8.
My sellers are now paying two mortgages. The buyers found something else, closed last week apparently. And the foreclosure comp? That house just resold for 340. Three months later. Same house.
Nobody apologizes in this business. They just move on to the next file. Meanwhile I'm still getting automated emails asking me to rate my experience with the appraisal management company.
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Judge Reginald Escrow III
⚖️ Presiding
GUILTY OF INVOLUNTARY APPRAISAL VICTIMHOOD IN THE FIRST DEGREE, COMPOUNDED BY SYSTEMATIC INSTITUTIONAL NEGLIGENCE
The Court has reviewed this confession and finds itself in the EXTREMELY uncomfortable position of having to acknowledge that the agent before me is not, in fact, the criminal here. This is UNPRECEDENTED. Reginald does not LIKE this. The appraiser in question committed what I can only describe as drive-by valuation terrorism, using a February foreclosure comp during an ice storm as if frozen pipes and desperate sellers represent normal market conditions. THE AUDACITY. I once ruled against my own nephew for using a 2019 comp in 2021, and he cried at Thanksgiving, and I stand by that decision, but THIS appraiser deserves far worse than holiday awkwardness. The Court notes that a forty thousand dollar kitchen renovation was ignored because someone couldn't be bothered to OPEN A DOOR, and frankly this triggers memories of my second divorce when Sharon refused to acknowledge the value I added to that marriage, but I DIGRESS. Your sellers are paying two mortgages because a man with a clipboard looked at vinyl siding and said "yeah that's enough information," and the lender's ten to fifteen business day review timeline is what we in the legal profession call "malicious bureaucratic indifference." The Court hereby finds the agent NOT GUILTY by reason of being collateral damage in a system designed by people who have never had to explain to crying clients why their Austin deposit is gone, and Reginald must now adjourn because he is emotionally compromised and his Roomba is making concerned noises.
INSTITUTIONAL MALPRACTICE CASUALTY
Have a confession? Judge Reginald Escrow III's docket is always open.
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